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Foley Hoag Represents Enanta Pharmaceuticals in $200M Royalty Monetization

May 01, 2023

Foley Hoag LLP represented Enanta Pharmaceuticals, Inc. (NASDAQ: ENTA)(“Enanta”), a clinical-stage biotech company dedicated to creating small molecule drugs for viral infections, in a $200 million sale to OMERS, one of Canada’s largest defined benefit pension plans, of 54.5% of Enanta’s future royalty payments from AbbVie Inc. on worldwide sales of MAVYRET®/MAVIRET®.

OMERS’ right to receive royalty payments is based on net sales of the product beginning in July 2023 through June 2032, with total payments capped at 1.42 times the purchase price. Enanta retains 45.5% of all royalties until the cap is hit, at which point 100% of all further royalties revert to Enanta.

Foley Hoag attorneys John Gourary, Rachel Beller and Eliana Sanchez represented Enanta in the royalty monetization, with assistance from Stacie Aarestad, Ryan Rourke Reed and Caroline Samp as to securities law matters.